Just when it seemed that downtown's urban renaissance was sliding back into the recessionary dark ages, Blog Downtown notes that City National Bank is moving both its headquarters and City National Bank subsidiary from Beverly Hills to Sixth and Flower streets. Bloggers Eric Richardson and Rich Alossi point out that most of the banks whose logos sit atop downtown's smoked-glass forest of skyscrapers are actually headquartered elsewhere.

“That wasn't always the case,” the two write. “Los Angeles [was] a banking center in the late 1800s and early 1900s. Spring Street was known as the 'Wall Street of the West' and was one of the most prominent West Coast financial addresses.”

CNB joins MySpace as the most recent corporations to announce their

desire to ankle the Hills of Beverly, although MySpace's plans to

relocate to Play Vista were torpedoed by the company's financial woes and resulting downsizing.

LA Weekly